Isn't it obvious that Trump's goal are not these tariffs, but renegotiated trading agreements? But everybody just seems to love to proclaim this the end of US.
No. It's not obvious that there's any lucid end goal whatsoever.
Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
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Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
#172You know the craziest thing about watching this as an outsider in Canada is that we as a nation are losing one reliable trading partner (and obviously losing an ally but that's another conversation). Germany - losing a trade partner. Japan? And so on. But the US has lost 180 reliable trading partners. You're already seeing in the first week burgeoning trade alliances between nations who wouldn't have cooperated befor…
I think that those in command are also waiting for the next President to undo all that but it is going to have a tremendous effect for a decade or more. Hopefully for the US they won't go in a similar crisis like the UK is going through... Cutting off countries like Japan or Taiwan like that when we know their geopolitical situation with China and how critical their economy is to the US is quite crazy.
The next president is going to be Trump. If people don't think that's at least a serious possibity they are extremely deluded about the situation the country is in right now.
Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
#173This is an inherently political subject, but I would appreciate a dispassionate argument explaining how this could be even remotely good for the U.S.'s economy in a way that is light on MAGA ideology and doesn't simply claim the overwhelming majority of economists are dumb. I'm simply not seeing even a glimmer of a possible upside right now. I see even less possibility of an upside for those of us North of the border…
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Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
#174It is interesting that tech (Nasdaq) is the hardest hit here. The real engine of US exports for recent decades and likely to be a casualty as other countries plan their trade-war retaliation. And that's not even taking into consideration what might happen in the domestic market should there be a real recession - consumers will cut down their consumption and that'll filter back to lower corporate earnings. In previous…
Almost all the trade deficit numbers being thrown around by the US administration don't include trade in services which the US generally has a large surplus. A lot of that is very high margin tech SASS/advertising. If this continues it seems like this could be a "digg->reddit" type moment for US tech. In some ways it is easier for a lot of people to leave facebook than it is for a single person. If you look at gross…
What about these tariffs would cause the millions/billions of non-paying users to stop using the free service that is facebook?
Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
#175I was looking at used cars on Carmax about two or three weeks ago. I looked again today. They're another $1-2k. This is the shareholder/political class trying to eat their cake and have it too. Pay people a stagnant wage for 40 years while taking most of the surplus value and dedicating it to equities, then pretend to do something about it, but in a way that passes the buck to the people who have been making a stagna…
...or they could've just laid off and gotten even more.
maybe, just maybe, trump and the people around him are actually just crazy and there's no big conspiracy.
Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
#176Earlier quoted context omitted.
There’s still a way out, the US Congress could convene over the weekend and revoke the President’s ability to impose tariffs. Restore it to Congress as stated in the constitution. Of course they won’t do that. Sic transit gloria mundi.
I started wondering if there's a way for citizens to push the issue that these tarrifs are unconstitutional. Like a lawsuit that got escalated to the Supreme Court or some thing if congress isn't going to. Some of the senators are breaking away though. If the country survives this though the next thing through executive order could be just as bad or worse. There doesn't seem to be any realistic way out of this insani…
are they unconstitutional? i imagine, like many things, congress has constitutionally saw fit to cede its authority to the executive many many moons ago
Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
#177Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
#178Earlier quoted context omitted.
Are globalist multinational corporations the main ones that get hurt by tariffs?
Yes, in the current American system!
Very untrue. Major corporations can absorb the damage for a few months without raising their prices, since they have more inventory, bulk discounts, etc.
Small companies are often running nearly paycheck-to-paycheck, which requires them to raise prices immediately, making them completely uncompetitive with the large corporations.
The large corporations know this and are happy to keep their prices low and burn money until the small business competition dies, then they can raise their prices.
Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
#179You know the craziest thing about watching this as an outsider in Canada is that we as a nation are losing one reliable trading partner (and obviously losing an ally but that's another conversation). Germany - losing a trade partner. Japan? And so on. But the US has lost 180 reliable trading partners. You're already seeing in the first week burgeoning trade alliances between nations who wouldn't have cooperated befor…
China is isolationist and they seem to be growing. The problem is the USA is a consumer economy which isn’t sustainable. We could get away with it as a tech leader, but with China stepping ahead (Deepseek) china will be a tech leader and manufacturing leader. What will the USA have?
> China is isolationist
China is what now? China is the biggest trading partner of something like 70% of all nations in the world!
China is asymmetric and unfair, not "isolated". They disallow imports except in a handful of industries they can't replicate yet. That works for China, because: (1) they are huge, and (2) they remain poor, and thus can do the low wage jobs internally in addition to doing them for the rest of the world.
The US only has advantage #1. Though at this point #2 seems within reach...
Re: Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout
#180This is an inherently political subject, but I would appreciate a dispassionate argument explaining how this could be even remotely good for the U.S.'s economy in a way that is light on MAGA ideology and doesn't simply claim the overwhelming majority of economists are dumb. I'm simply not seeing even a glimmer of a possible upside right now. I see even less possibility of an upside for those of us North of the border…
I think this might be a move to stop a world war (between Russia and NATO/Europe). If U.S. also leaves NATO any time soon - the chances for a world war would decrease greatly.
Care to explain your rationale? Seems like Russia is in no position to invade any NATO country unless the US leaves the alliance. They've proven themselves wholly outclassed in Ukraine, against a much smaller country with refurb gear.